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What is a repo-linked home loan rate (RLLR / EBLR)?
Updated · CardKhoj Editorial Team
Short answer
Since October 2019, new floating-rate home loans from banks must be linked to an external benchmark — usually the RBI repo rate. Your rate equals the benchmark plus a spread that the bank sets based on your profile. When the RBI changes the repo rate, your loan rate must be reset at least once every three months.
How your rate is built
Your rate = repo rate + bank's mark-up + credit risk premium
The spread is fixed for your loan unless your credit profile changes significantly. Only the repo part moves with RBI policy.
Why it matters
- Rate cuts are passed on faster and more transparently than under older MCLR or base-rate loans.
- If you are still on an older MCLR or base-rate loan, switching to the repo-linked regime can lower your rate — ask your bank about the conversion fee.
NBFC and housing finance loans
Housing finance companies are not bound by external benchmark rules and use their own prime lending rate, so their rates may adjust differently.
This answer is general information, not personalised financial or tax advice. Rules, rates and limits change — confirm with your bank, the RBI or a qualified adviser before making decisions.